Over on the mainland, the Shanghai Composite Index
SHCOMP, -2.20%
lost 2.2%.

The China Securities Regulatory Commission, the nation’s top securities regulator, announced late Monday that it had just approved the IPO plans of 24 companies. Of those, 12 would be listed on the Shanghai Stock Exchange, while the rest would go to Shenzhen markets.

Major mainland banks and property developers posted heavy losses in both Hong Kong and Shanghai.

Other Asian markets were also mostly lower. Japan’s Nikkei Average
NIK, -0.06%
dipped 0.1%, but the broader Topix
I0000, +0.12%
inched up 0.1%. The yen
USDJPY, +0.00%
strengthened against the dollar to ¥119.76, from ¥119.96 at the previous stock close.

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